Majestic Management Ltd Small abridged accounts
Majestic Management Ltd Small abridged accounts
Statement of Consent to Prepare Abridged Financial Statements |
COMPANY REGISTRATION NUMBER:
08802663
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Abridged Financial Statements |
Year ended 31 December 2016
Contents |
Page |
Abridged statement of financial position |
1 |
Notes to the abridged financial statements |
2 |
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Abridged Statement of Financial Position |
2016 |
2015 |
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Note |
£ |
£ |
£ |
Current assets
Cash at bank and in hand |
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Creditors: amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Net assets |
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Capital and reserves
Called up share capital |
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Profit and loss account |
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Members funds |
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In accordance with section 444 of the Companies Act 2006, the abridged statement of income and retained earnings has not been delivered.
Directors' responsibilities:
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The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476
;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
29 September 2017
, and are signed on behalf of the board by:
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Director |
Company registration number:
08802663
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Notes to the Abridged Financial Statements |
Year ended 31 December 2016
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 38 Sispara Gardens, London, SW18 1LQ, United Kingdom.
2.
Statement of compliance
3.
Accounting policies
Basis of preparation
Transition to FRS 102
The entity transitioned from previous UK GAAP to FRS 102 as at 1 January 2015. Details of how FRS 102 has affected the reported financial position and financial performance is given in note 5.
Income tax
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
4.
Related party transactions
Control:- The company was under the control of
Miss S Omar
throughout the current year. Miss S Omar
is the managing director and majority shareholder. Transactions:- Included in other creditors are amounts due to the director in the sum of £50,524.
5.
Transition to FRS 102
These are the first abridged financial statements that comply with FRS 102. The company transitioned to FRS 102 on 1 January 2015.
No transitional adjustments were required in equity or profit or loss for the year.